http://www.horizonafrica.com

one

C ontents2 Who we are

2 What we do

2 Where we operate

3 Who we work with

4 Detailed description of our services

10 Our experience across sectors and geographies

12 Our networks

14 Meet the team

Mergers & Acquisitions Services

Acquisition & Disposal Advisory

Capital Raising

Transaction Services

threetwo

We are sector-agnostic and have successfully completed

mandates in multiple sectors from Agriculture to FMCG to

Real Estate to Technology. For a complete list of our sector

experience, please see page 10.

We work on both the buy-side and sell-side of transactions.

Our clients include private businesses, family investment

offices, multi-nationals, private equity, insurance and pension

funds.

Who we areHorizon Africa Capital is a boutique financial

advisory firm based in Nairobi, Kenya.

Our range of services are

covered in four broad areas:

From our offices in Nairobi, we offer our services

to clients across the East and Southern African

region.

We have successfully completed assignments across

Kenya, Uganda, Tanzania, Rwanda and Democratic

Republic of Congo.

Our client focus is on

businesses that are

shaping the economies

of the countries in

which we operate.

Who we work with

What we do

Where we operate

M & AServices

CapitalRaising

Acquisition& DisposalAdvisory

TransactionServices

fivefour

Acquisition &

Disposal Advisory

Capital Raising

TransactionServices

Detailed description of our services

M & A Services

• Business review and planning

• Corporate strategy

• Market research on sectors and regions

• Determine optimal capital structure(s)

• Use our network to identify potential investors

• Prepare an info memorandum for marketing

• Negotiate terms and recommend the best offer

• Identify potential buyers & targets

• Organise, supervise & manage the deal process

• Transaction structuring

• Capital and balance sheet restructuring

• On and off-shore structuring

• Financial Due Diligence

• Financial Modelling

• Valuation Analysis

Evaluate the direction to

drive your business towards:

Should you grow organically

or via acquisitions? Does it

make sense to diversify into

new markets or expand the

existing product range?

We are able to provide

clients with a clear

understanding of the

opportunities and threats

present when considering

market entry into new

sectors or geographies.

Corporatestrategy

Market

research on

sectors and regions

Mergers &Acquisitions

ServicesHow are you measuring

business performance? Need

to prepare realistic budgets

and forecasts? We can work

with you to put together a

robust business plan and

financial model.

Business

review

and planning

six seven

Whatever your requirement for obtaining funds, we are able to provide a systematic approach to raising capital.

Capital RaisingAcquisition & Disposal AdvisoryWhether buying or selling, we have the ability to tap in to our broad and deep network of financial and strategic

investors to match the right partner for the transaction. Our versatility to tailor our advice extends to the type of

transactions that we have experience in.

Size and Type of Companies we work with

Family-run businessesLocal diversified

groups

Acquisition

finance

Asset

finance

Bridge

financing

Corporate

finance

Dividend

recapitalisation

Growth

capital

Partial

exits

Project

finance

Structured

finance

solutions

Working

capital and

trade finance

Subsidiaries of foreign-owned

businesses and multinationals

At the outset, we get an understanding of the optimal capital structure for the business /

project.

This lays the foundation for the type and amount of funding sources that would beconsidered most appropriate and could include any combination of debt, mezzanine finance

and/or equity.

Our team includes a number of experienced bankers which, together with our track record at

Horizon, gives us an edge in crafting bankable proposals for marketing our clients’ fundraising

requirements effectively.

Situations we advise in

• Mergers & acquisitions

• Leveraged / management buy outs

• Divestitures / spin offs

• Joint ventures

• Public private partnerships

Investment companies

including pension funds,

insurance companies and

private equity

Transaction Services

We also offer stand-alone solutions to help transform your business. These include:

Capital and Balance Sheet Restructuring

Balancing the right amount of debt and equity in the business can improve the growth rate, reduce the overall cost

of funding and make the working capital cycle more efficient.

On and off-shore Structuring

For companies looking to expand geographically or setup mergers and/or JVs with third-parties, organising the group

structure can provide tax efficiencies and clean exit mechanisms.

Financial Due Diligence

When deciding to buy a company, we can perform rigorous analysis of the financial state of the target that would

cover quality of earnings to key accounting policies to balance sheet reviews.

If you are considering selling part or whole of your company, we work with you to identify and clean up areas of

concern prior to marketing the business for sale.

Financial Modelling

From cost-benefit analyses to investment appraisals to in-depth business plans, we have the right set of tools to

deliver a customised, user-friendly and fit-for-purpose financial model.

Valuation Analysis

Obtaining an independent third-party opinion on the valuation of a business is advisable in a variety of situations

including transaction negotiations to legal disputes. We overlay our technical skills with commercial knowledge to

provide a range of realistic and fair values for businesses or divisions of a business across all sectors.

eight nine

ten eleven

Sectors we have proven experience in Our experience across the geographies

Real Estate

FMCG

Agriculture

Oil & Gas

Mining

Manufacturing

Power & Infrastructure

Transport & Logistics

Telecoms & media

UgandaAgriculture

Manufacturing

FMCG

Real Estate

Rwanda & BurundiReal Estate

TanzaniaAgriculture

FMCG

Oil & Gas

Real Estate

DemocraticRepublic ofCongoAgriculture

Mining

Real Estate

KenyaAgriculture

FMCG

Manufacturing

Oil & Gas

Power

Real Estate

Technology

Transport

From late 2014, our coverage will include Ethiopia and Zambia.

thirteen

Our Networks

Global M&A is one of the world’s leading associations of independent

mid-tier M&A advisory firms with an international presence in over 50

countries. Through this network, we are able to tap into a broad and deep

database of investors and targets and are able to offer an international

presence with local expertise.

The Africa Legal Network is an alliance of 12 of the leading top-tier

law firms across sub-Saharan Africa with affiliates in UAE and South

Africa. We are able to leverage this relationship by developing

common knowledge sharing platforms and enhancing our capability

to service both domestic and international corporate finance work

across the sub-Saharan Africa region.

Our value proposition is

enhanced by the strength and

breadth of our relationships

that includes Global M&A and

the African Legal Network.

“

”

twelve

Meet the team

Charles OmangaManaging Principal

Shanif DewanyManaging Principal

Background: Shanif is a seasoned

investment banker with an established track

record in structuring and advising on complex

M&A transactions and capital raising across

East and sub-Saharan Africa. Before joining

Horizon, Shanif held senior positions in the

Corporate & Investment Banking arms of

Barclays Bank Kenya and Citibank NA mainly

covering Kenya and the East African region.

Academics: Shanif holds an MBA from the

University of Chicago’s Booth School of

Business.

Sector Coverage: Agro-processing, FMCG,

Heavy & Light Manufacturing, Real Estate.

Service Coverage: M&A, Capital Raising,

Capital / Tax Structuring.

Background: Charles is a career corporate

and investment banker with proven

experience and capability in driving businesses’

profitability, executing complex corporate and

project finance transactions across several

multi-national banking institutions. During his

time at Horizon, Charles has executed

transactions in Power, Oil & Gas, Real Estate

and FMCG businesses. Charles has significant

experience in Corporate & Project Finance

having served as Head of Corporate Banking

at CFC Stanbic Bank as well as Head of Public

Sector & Trade Finance Barclays Bank Kenya.

Academics: Charles holds an MBA from the

University of Leicester.

Sector Coverage: All sector coverage.

Service Coverage: Structured Debt &

M&A Advisory.

fifteenfourteen

Pareet ShahAssociate Principal

Nyokabi ManguyuAssociate Principal

Background: Nyokabi was previously an

Associate with Goldman Sachs in New York

where she worked in a team focused on

valuation, revenue and balance sheet

substantiation and reporting, as well as

accounting policy for private equity.

Academics: Nyokabi graduated magna cum

laude with a BSc. in Applied Economics from

Ithaca College, New York.

Sector Coverage: FMCG, Manufacturing,

Real Estate.

Service Coverage: M&A, Corporate

Finance Advisory, Equity Raising.

Background: Since joining Horizon in 2010,

Pareet has advised clients on the structuring

and execution of complex corporate finance

and project finance transactions. He has also

worked on M&A deals. Prior to Horizon,

Pareet worked within Corporate and

Investment Banking at CfC Stanbic Bank.

Academics: Pareet graduated with a BSc.

(Hons) in Mathematics, Operational Research,

Statistics and Economics (MORSE) from the

University of Warwick and is a member of

ACCA.

Sector Coverage: Agro-processing,

Energy, Manufacturing & Industrials, Mining,

Real Estate.

Service Coverage: Debt Advisory & Re-

structuring, Capital Raising.

Hursh ShahManager

Andrew ThinguriAssociate

Background: Andrew previously worked as

a Research and Corporate Finance Analyst at

Faida Investment Bank. His responsibilities

included conducting investment analysis

on listed instruments and providing

macroeconomic forecasts.

Academics: Andrew has a BA in Economics

and Mathematics from the University of

Nairobi and an MA in Economics from

Kenyatta University. He is also a CFA®

Charterholder.

Sector Coverage: Manufacturing, Logistics,

Oil & Gas, Power, Real Estate.

Service Coverage: Capital Raising,

Valuation Analysis, Corporate Finance, Training.

Background: Hursh was previously a

Manager within Transaction Services at PwC

UK. His deal experience includes buy-side and

sell-side advisory of banking assets across

Europe. He was also responsible for valuing

private equity investments in infrastructure,

manufacturing, oil & gas, real estate and

telecoms across several emerging markets.

Academics: Hursh is a Chartered

Accountant (ICAEW) and has completed

Level II of the CFA® Program. He graduated

with a BSc. (Hons) in Mathematics,

Operational Research, Statistics and

Economics from the University of Warwick.

Sector Coverage: Financial Services,

Manufacturing, Real Estate, Technology.

Service Coverage: Capital Raising, Due

Diligence, Financial Modelling, M&A, Valuation.

Mweso SichaleSenior Analyst

Azra MeraliAnalyst

Background: Before joining Horizon, Azra

worked within a Private Equity Audit role at

KPMG in London. Responsibilities included fair

value and impairment advisory for client

portfolios, across the spectrum of asset class,

including mezzanine loans and equity as well

as advising on new investment and accounting

regulatory impacts.

Academics: Graduated from the London

School of Economics with a BSc (Hons) in

Accounting and Finance. Azra is a Chartered

Accountant (ICAEW).

Sector Coverage: All sector coverage.

Service Coverage: All service coverage.

Background: Before joining Horizon Africa

Capital, Mweso was a Senior Investment

Analyst at Britam Asset Managers. His primary

responsibility was the assessment of real

estate projects through financial modeling and

capital structuring. He also conducted research

on regional macro-economic trends and

covered listed companies within the financial

services sector.

Academics: Mweso graduated with an LLB

(Hons) in Law from the University of Leeds

and has completed Level II of the CFA®

Program.

Sector Coverage: All sector coverage.

Service Coverage: All service coverage.

seventeensixteen

nineteeneighteen

GlossaryAcquisition finance Debt funding provided to buyers during a leveraged buy-out

Bridge finance A short-term loan that is used until a company secures permanent financing or

removes an existing obligation

Divestiture The partial or full disposal of assets or a business unit through sale, exchange,

closure or bankruptcy

Dividend recapitalisation A dividend payment to shareholders by raising new debt rather than pay from

retained earnings

FMCG Fast Moving Consumer Goods

Leveraged buy out A transaction where the buyer purchases a company, its assets or a single asset

using significant amounts of borrowed money

Partial exits Payment made to existing shareholders by new investors to sell a part of their

shares while retaining an on-going interest

Spin off The creation of an independent company through the sale or distribution of new

shares of an existing business/division of a parent company

Structured finance Involves complex tailor-made solutions including tax / off-shore structuring for

companies with very unique financing needs

Kenrick KamboAnalyst

Background: Prior to Joining Horizon,

Kenrick worked in the Consulting department

at PKF East Africa as a Corporate Finance

Analyst. His roles and responsibilities included

developing business plans, conducting feasibility

studies, due diligence, financial modelling and

valuation advisory.

Academics: Kenrick has an MSc. in

Accounting and Financial Management from

Henley Business School, The University of

Reading and a BSc. (Hons) in Financial

Mathematics from Coventry University.

Sector Coverage: All sector coverage.

Service Coverage: All service coverage.

Horizon Africa Capital Limited

Apollo Centre, 2nd Floor, Wing A, Ring Road Parklands

P.O. Box 103646 - 00101, Nairobi, Kenya

Tel: +254 (20) 3742614 / 5

www.horizonafrica.com